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Boston PE Fund Sues 2 Cos. For Diluting Securities, Fraud

Law360, New York (October 12, 2017, 7:30 PM EDT) -- Boston-based Auctus Private Equity Fund LLC filed lawsuits against two companies in Massachusetts federal court on Wednesday, accusing both of breaches of contract involving default events that affected the fund’s securities purchase agreements with them.

Auctus said that Kansas City, Missouri-based APT MotoVox Group Inc., formerly known as Frozen Food Gift Group Inc., owes it a default sum of more than $140,000, and that Dallas-based crude oil and natural gas company Petron Energy II Inc. owes it a default sum of at least $127,581.

The two...
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